|
Allowances
|
2005/2006
HK$
|
|
Basic Allowance
|
100,000
|
|
Married Person's Allowance
|
200,000
|
| Child Allowance - each (max. 9 children) |
40,000
|
|
Dependent Brother / Sister Allowance - each
|
30,000
|
|
Dependent Parent Allowance - each (aged 60+)
|
30,000
|
|
Additional Dependent Parent Allowance - each (aged 60+)
|
30,000
|
|
Dependent Parent Allowance - each (aged 55-59)
|
15,000
|
|
Additional Dependent Parent Allowance - each (aged 55-59)
|
15,000
|
|
Single Parent Allowance
|
100,000
|
|
Disabled Dependant Allowance - each
|
60,000
|
Concessionary deductions: allow actual amount subject to the following limits.
| |
HK$
|
|
Self-education expenses
|
40,000
|
|
Elderly residential care expenses
|
60,000
|
|
Home loan interest
|
100,000
|
|
Contributions to mandatory provident fund
|
12,000
|
Net Chargeable Income = Total Income - Deductions - Allowances
Tax rates on various bands of net chargeable Income :
|
Income bands:
|
HK$
|
| |
Net Chargeable Income
|
Rate
|
Tax
|
|
On the First
|
30,000
|
2%
|
600
|
|
On the Next
|
30,000
60,000
|
8%
|
2,400
3,000
|
|
On the Next
|
30,000
90,000
|
14%
|
4,200
7,200
|
|
Remainder
|
|
20%
|
|
Tax payable is restricted to: (Total income - Deductions) * Standard rate @16%
|
